“Zamano will also be required to make a cash contribution to the business to provide it with adequate working capital and in respect of potential liabilities that may arise following completion of the sale,” the market was told.

“Shareholders should note that there is no certainty that any transaction will be completed and any transaction will be subject to approval by the company's shareholders.”

In March, Zamano confirmed plans to wind down the existing lines of business to protect the cash on the balance sheet.

zamano is a leading provider of targeted, interactive, measurable online and mobile marketing campaigns to end users. Our platform is underpinned by a leading edge analytics engine giving real time insights into customer behaviour and performance.

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